SteelPeak Wealth LLC Buys 667 Shares of American International Group, Inc. (NYSE:AIG)

SteelPeak Wealth LLC raised its position in shares of American International Group, Inc. (NYSE:AIG) by 1.6% in the third quarter, HoldingsChannel reports. The fund owned 41,662 shares of the insurance provider’s stock after acquiring an additional 667 shares during the period. SteelPeak Wealth LLC’s holdings in American International Group were worth $3,051,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Direct Indexing L.P. grew its stake in shares of American International Group by 7.1% in the third quarter. First Trust Direct Indexing L.P. now owns 24,419 shares of the insurance provider’s stock valued at $1,788,000 after acquiring an additional 1,621 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of American International Group during the 3rd quarter worth approximately $227,000. Pallas Capital Advisors LLC bought a new position in shares of American International Group during the third quarter worth approximately $265,000. Nisa Investment Advisors LLC raised its position in shares of American International Group by 54.9% in the third quarter. Nisa Investment Advisors LLC now owns 232,327 shares of the insurance provider’s stock valued at $17,013,000 after buying an additional 82,337 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC grew its position in American International Group by 4.6% during the third quarter. Baker Tilly Wealth Management LLC now owns 7,806 shares of the insurance provider’s stock worth $572,000 after buying an additional 346 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Trading Up 0.9 %

NYSE:AIG traded up $0.68 during mid-day trading on Wednesday, hitting $77.34. 587,618 shares of the company’s stock were exchanged, compared to its average volume of 4,072,697. American International Group, Inc. has a fifty-two week low of $60.82 and a fifty-two week high of $80.83. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $49.80 billion, a P/E ratio of -59.43, a PEG ratio of 3.88 and a beta of 1.06. The company has a 50 day simple moving average of $75.01 and a 200-day simple moving average of $75.55.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. American International Group’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $1.75 EPS. As a group, research analysts expect that American International Group, Inc. will post 5.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 8,032,129 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total value of $200,000,012.10. Following the completion of the sale, the insider now owns 284,238,898 shares of the company’s stock, valued at approximately $7,077,548,560.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

AIG has been the subject of a number of recent analyst reports. Barclays started coverage on American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 target price for the company. JPMorgan Chase & Co. raised shares of American International Group from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $93.00 to $89.00 in a report on Thursday, October 10th. Keefe, Bruyette & Woods cut their price target on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Citigroup decreased their price objective on shares of American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 target price on shares of American International Group in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, American International Group presently has a consensus rating of “Hold” and a consensus price target of $84.38.

About American International Group

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.